German cable operator Tele Columbus has set an €8 to €12 per-share price range for its IPO and said it expects the total offering size to be €447 million if the offered shares are placed at the mid-point of the price range.
Tele Columbus will offer up to 52.77 million shares, comprising of 37.5 million new primary shares, 15.27 million existing shares and an additional up to 3.75 million existing shares for a potential over-allotment.
If the overallotment option is exercised in full, Tele Columbus said it expects the mid-point offer size to be €477 million. At the mid-point share price range, its market cap will be €530 million.
“The IPO will give us additional financial flexibility to implement our successfully initiated growth strategy in the coming years”, said Ronny Verhelst, CEO of Tele Columbus.
The offer period will start on January 13 and is expected to run until January 21. Tele Columbus’ first stock market trading day is expected to be January 23.
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